Rates Held at 5.25%
Interest rates stay at 5.25%
In line with expectations the Bank of England has kept interest rates steady with no change of the current 5.25% figure.
With a slowing economy and increasing inflationary pressures, it seems the BoE’s Monetary Policy Committee is keeping a steady hand on interest rates balancing growth and inflation when compared to the drastic slashing of rates in the US where the figure is down from 5.25% in September last year to just 3% now.
Previously the UK interest rate was cut in both December (to 5.5%) and February (to 5.25%) from a recent peak of 5.75% where it had been since July.